Airport & Aviation Appraisals, Inc.

"When the Job Requires a Special Purpose Product"

Experience | Corporate Hangars

The following are brief descriptions of selected work that has been performed by Airport & Aviation Appraisals, Inc. nationwide on:

CORPORATE & OTHER HANGARS

Long Island Mac Arthur Airport, Islip, NY (Chase Manhattan Bank) — Appraisal of a charter operation hangar.

Austin-Bergstrom Intlíl Airport, Austin, TX — Appraisal and market rental rate study of unexpired leasehold estate of a heavy maintenance operation

New Castle County Airport, Wilmington, DE (Krapf, Inc.) — Appraisal of unexpired leasehold estate and leasehold interest advantage of three hangar complex (corporate and FBO) for potential purchase.

Lancaster Airport, Lancaster, PA — Appraisal of 7,000 square foot corporate hangar to determine market rental rate.

New Castle County Airport, Wilmington, DE (MBNA) — Market Value of corporate hangar.

Sikorsky Airport, Bridgeport, CT (BankBoston) — Appraisal of charter/corporate hangar facility.

Wilkes County Airport, North Wilkesboro, NC (Tyson Foods) — Appraisal of corporate flight department hangar.

Rutland State Airport, Clarendon, Vermont — Valuation of leasehold interests in hangar.

Chester County Airport, Coatesville, Pennsylvania — Market Rental Value for various T-hangars

New Castle County Airport, Wilmington, DE (Hercules) — Market Value of corporate hangar.

Stennis International Airport, Bay Saint Louis, Mississippi — Market rental relating to real estate comprising two open bay hangars, and a T hangar complex to be constructed at Stennis International Airport. Developed recommendations regarding contractual stipulations pertaining to land lease extensions for lessee constructed improvements. Analyzed though-the-fence possibilities at this facility, and provide a variety of approved documentation relating to similar agreements at other airports subject to Sponsorís Assurances.

Harrisburg International Airport, Harrisburg, PA — Appraisal of a corporate hangar of approximately 12,000 square feet located on 1.3 acres on the north side of Harrisburg International Airport.

Bayport Aerodrome, Bayport, New York. — Appraisal of concerning an office structure and supporting airside property along with a T hangar complex.

North Central Airport, Smithfield, Rhode Island (CommerceBank) — Appraisal of charter/corporate hangar facility.

Hobby Airport, Houston, TX (HCC Service Company) — Market Value of corporate hangar of approximately 38,588 square feet located on 2.34 acres on the south side of William P. Hobby Airport.

Bismarck Airport, Bismarck, North Dakota — Appraisal of Corporate Hangar. Analyzed the value in the context of the existing supporting ground lease, and also with a new 20-year ground lease at the current market ground rental.

North Las Vegas, Nevada (Nevada State Bank) — Appraisal of approximately 3.4 acres improved as a heliport with three structures totaling approximately 22,460 square feet.

Atlantic City International Airport, Egg Harbor, New Jersey — Valuation of one parcel of land, consisting of 123,750 square feet (2.84 acres) improved with a 50,000 square foot hangar.

Cape Girardeau Regional Airport, Cape Girardeau, Missouri — Valuation of a 52,000 square foot hangar and supporting site.

Toledo Express International Airport, Toledo, OH — Appraisal a hangar of approximately 34,021 square feet located on 2.51 acres on the north side of Toledo Express International Airport.

Driggs- Reed Memorial Airport, Driggs, Idaho — Appraisal of hangar and office facility located on the southwest side of the airside property inventory. The property consisted of approximately +/- 1.043 Acres (45,440 Square Feet) of land and 11,020 square feet of improvements.

Philadelphia International Airport, Philadelphia, Pennsylvania — Appraisal of corporate aircraft hangar of approximately 26,095 square feet located on 1.254 acres on the southwest side of Philadelphia International Airport.

T.F. Green Airport, Providence, Rhode Island — Appraisal of a complex consisting of two older open bay hangars with integrated office space and supporting airside land.

New Braunfels Municipal Airport, New Braunfels, Texas — Appraisal of of all T hangars, various parcels of vacant and unimproved land, a parcel of improved land supporting an FBO, and four open bay hangar structures.

Lakeland-Lindner Regional Airport, Lakeland, Florida — Appraisal of hangar and office facility located on the west side of the airside property inventory. The property consisted of approximately 33,142 square feet (0.76 acres) of land and 8,830 square feet of improvements.

Spirit of St. Louis Airport, Chesterfield, Missouri — Appraisal of a hangar, office and shop facility located on the midfield area of the airside. The aggregate property consists of approximately 9 acres of fee simple land and 100,170 square feet of improvements.

Lancaster Airport, Lancaster, Pennsylvania — Valuation of corporate hangar facility for purchase by fixed base operator.

Air Products Corporation, Allentown, Pennsylvania — A feasibility analysis and market survey regarding proposed construction of hangar, office and ship facility for corporate flight department.

Queen City Municipal Airport, Allentown, PA — Appraisal of a large maintenance hangar

Waukegan Airport, Waukegan, Illinois — Valuation of corporate hangar and supporting site for either lease or sale to potential airport users.

Houma-Terrebonne Airport, Houma, Louisiana — Valuation of corporate hangar facility for Texaco Aviation Flight Department.

Colorado Springs Airport, Colorado Springs, Colorado — Market Value of corporate hangar to assist airport during negotiations after the reversion of the facility upon expiration of the underlying ground lease.

South Jersey Regional Airport, Lumberton, New Jersey — Valuation of entire, privately owned public airport facility which is a participant in AIP Program. Included land improvements and going concern value of fixed base operation for a financial institution.

San Jose International Airport, San Jose, California — Market Value appraisal of underlying site of Hewlett Packard Corporate Hangar to update and escalate lessee’s ground rent payments.

Port Columbus International Airport, Columbus, Ohio — Valuation of unimproved airside land to determine market rental rate for occupation by a corporate tenant.

Francis S. Gabreski Airport, Westhampton Beach, New York — Valuation of all airside land and improvements along with landside industrial land and improvements to determine market rental rate. Valuation included feasility study and analysis of absorption and likely Highest and Best Use for all airside real estate.

Lancaster Airport, Lancaster, Pennsylvania — Appraisal of Armstrong World Industries hangar to determine market rental rate upon reversion of the structure to the Lancaster Airport Authority.

Signature Flight Services Facility, Bradley International Airport, Hartford, Connecticut — Valuation of +/- 100,000 sq.ft. corporate hangar/fixed base operation facility to determine value as collateral for financing purposes to a state economic development agency.

Midway Airport, Chicago, Illinois — Valuation of a large stand alone corporate aviation facility and a small maintenance hangar to determine market rental rate for land and improvements.

Time Warner Corporation, MacArthur Islip Airport, Islip, New York — Valuation of large corporate/FBO hangar as a part of a potential purchase by a corporate entity.

GTE Corporate hangar, Beverly, Massachusetts — Appraisal of 35,000 sq.ft. corporate hangar facility.